The explosion proof equipment market is experiencing high growth in the forecast period. The growth of the market for an explosion proof equipment is highly influenced by the growth in number of industrial areas. Hazardous locations are commonly found in industries including, oil & gas, pharmaceuticals, petrochemical, transportation, marine, and mining among others. Therefore, need to deploy explosion proof equipment is rising. In the highly competitive explosion proof equipment market, international expansion complicates this task by necessitating manufacturers to identify and comprehend global certification requirements along with applying them to their innovations. For efficiently compete in the market, manufacturers require to mitigate risks, innovate safely, and enter global markets. Certain countries of the world may only need a local certification mark for explosion proof lighting however, other countries of the world may use harmonized certification systems such as the IECEx Systems and ATEX Directive. Global certification for use of equipment and devices in hazardous location is essential to compete in present modern world. A player operating in the market can accelerate its global product acceptance by bundling services. Combining hazardous locations services can help in attaining access to global market, reduce cost, as well as reduce time to market. However, the explosion proof equipment industry faces challenges related to designing and manufacturing safe, energy efficient, reliable, and innovative products that can be installed in atmospheres prone to explosions.
The explosion proof equipment market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. The APAC region is expected to be the fastest growing region in the coming years, APAC region consists of many developing countries that are witnessing a high growth in their manufacturing sector. The region has become a global manufacturing hub with presence of diverse manufacturing industries. These include automotive, military, chemical, Mineral-based industries, semiconductor, textiles, consumer electronics, and F&B among others. Further, increasing consumption of electricity in the region has resulted in increasing construction of new power plants.
Whereas, Europe followed by North America and Asia Pacific East holds a highest market share in the explosion proof equipment market. Explosion proof equipment market is expected to experience significant growth in the coming years due to growth in the number of oil & gas industries, favorable government regulations, and booming construction industry. Moreover, IoT is has emerged out as the most popular trend globally, which is nearly being associated to every technology. Whether it’s manufacturing industries or other industries, IoT is being linked to everything. Modern explosion proof equipment and exposure aims to exquisitely exploit the supply of illumination systems and thus use them more efficiently and economically. Intelligent lighting can also be used for monitoring illumination systems and is consequently a move towards Industry 4.0.
The explosion proof equipment market by protection method is segmented into explosion prevention, explosion containment, and explosion segregation. The explosion prevention type holds a major share in the market and is expected to continue its dominance in the forecast period as well. The intrinsically safety and equipment under explosion prevention avoids an explosion by restricting the release of sufficient electrical energy to ignite explosive gases. The increased safety method is suitable for the Zone 1 and Zone 2 conditions. This technique is used in various application to protect terminals, lamp sockets, electrical connections, and squirrel gauge motors. From time to time, it is also used as a combination along with other different methods of protection.
The major players operating in the market for explosion proof equipment market include ABB Ltd., BARTEC GmbH, CORTEM S.P.A, EATON Corporation, Extronics Ltd., Emerson Electric Co., Hubbell Inc., Rockwell Automation, Inc., R.Stahl AG, and Siemens Ag among others.
The report segments the global explosion proof equipment market as follows:
Global Explosion Proof Equipment Market – By Protection Method
Global Explosion Proof Equipment Market – By Type
Global Explosion Proof Equipment Market – By Industry
Global Explosion proof equipment Market – By Geography
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